The current appeal contests the National Company Law Appellate Tribunal's ruling, which annulled the National Company Law Tribunal's initiation of the Corporate Insolvency Resolution Process against Hitro Energy Solutions Private ... Limited, asserting that the appellant, being a purchaser rather than an operational creditor under the IBC, lacked evidence of the respondent's acquisition of the Proprietary Concern, and that the application under Section 9 of the IBC was time-barred, with these matters now elevated to the Supreme Court.